Press Room

Oil Change International, in collaboration with over 200 organizations worldwide, is releasing the Big Oil Reality Check report with a virtual press conference on May 21, 2024. The report assesses the climate pledges and plans of eight international oil and gas companies – Chevron, ExxonMobil, Shell, TotalEnergies, BP, Eni, Equinor, and ConocoPhillips – against 10 criteria representing the bare minimum for aligning with the Paris Agreement to limit global heating below 1.5°C.

Banks financed fossil fuels by $6.9 trillion dollars since the Paris Agreement; $705 billion provided in 2023 alone; JP Morgan Chase, Mizuho, and Bank of America are worst 3 funders

The ongoing invasion of Rafah is a devastating new climax in the genocide against the Palestinian people. There is nowhere left for the ~1.3 million Palestinians sheltering in Rafah (mostly women and children) to go, with Israel closing two key border crossings blocking people’s ability to flee and for humanitarian aid to enter.

“The G7 are falling far short of what’s needed to implement the COP28 agreement to phase out fossil fuels. These leaders cannot say they’re committed to a livable climate, while slow walking coal phase out, endorsing expansion of fossil gas, failing to pledge new climate finance," said Ioualalen.

“It is critical that President Biden continues to highlight the climate crisis in his speeches, but we cannot ignore that the United States is the world’s largest producer, expander, and exporter of oil and gas.

At a time when governments must ramp up their climate efforts, the Scottish Government’s backtracking is a catastrophic betrayal. Once a UK leader on climate policy, Scotland is turning its back on scientific evidence and international obligations, to line the pockets of oil and gas executives and save face after missing eight of the last 12 annual emissions targets.

Japanese financing of LNG projects has a legacy of environmental and human harm, especially along the US Gulf Coast. Japanese private banks (MUFG, Mizuho, SMBC) are the top three financiers for LNG export terminals in the U.S., and the U.S. is the largest exporter of LNG in the world.

New report shows that between 2020 and 2022, G20 governments and the multilateral development banks (MDBs) provided $142 billion in international public finance for fossil fuels, almost 1.4 times their support for clean energy in the same period.

On April 10-11, Japanese Prime Minister Fumio Kishida will meet with U.S. President Joe Biden in Washington, DC, address Congress, and join a trilateral meeting with Philippine President Ferdinand Marcos, Jr.. This visit comes on the heels of the Biden Administration’s decision to pause pending LNG export approvals to non-free trade countries after intense pressure from frontline communities. Many don’t realize that Japan is one of the largest financiers of U.S. LNG export projects and is working to derail clean energy transitions across Asia and globally.